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    461-467 Mount Prospect Ave Newark, NJ 07104

    For Sale
    $4,000,000

    Commercial - Newark City, NJ

    Property size:
    9,999 SF
    Lot size:
    0.67 Acres
    Days on Market:
    73
    Last Refresh:
    Dec 13 at 8:06 pm

    Property Features for 461-467 Mount Prospect Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    Rooms
    Basement
    Parking features
    Parking Lot
    Basement Y/N
    1
    Size
    9,999 SF
    Lot size
    0.67 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1950
    Floors in Building
    3
    Number of units
    5
    Building materials
    Vinyl Siding
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    eXp Realty, LLC (866) 201-6210 [email protected]

    Listing agent PETER BOUTROS (866) 201-6210

    Listing date Oct 2, 2025

    MLS# 3983444 Listing URL

    Copyright © 2025 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Newark City Commercial Investment Opportunity

    This commercial building, located in an established Newark neighborhood, presents an investment and business opportunity. Currently, the property is home to thriving medical practices, offering a professional setting suitable for healthcare providers and general office use. The property also has future redevelopment potential. It features on-site parking and is situated in a location surrounded by a strong residential community. The lot size is 0.67 acres, and the property size is 9999 square feet. The zoning is commercial.
    Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Bully Zone K9 Clinic

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.16957
    Latitude
    40.7676

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    FAQs

    What type of property is this?
    Medical office - Commercial building in established Newark neighborhood, ideal for medical practices.
    Where is this medical office located?
    The property is located at 461-467 Mount Prospect Ave Newark, NJ.
    What is the asking price?
    The asking price for this property is $4,000,000.
    What are key features of this property?
    This property features: - Thriving commercial building currently housing medical practices.; - Excellent visibility and on-site parking.; - Prime location in an established Newark neighborhood.
    (866) 201-6210
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    461-467 Mount Prospect Ave Newark, NJ 07104
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